40724 Ed.12-90 Printed in U.S.A. INSURED COPY Page 1
DELIVERY INVOICE
Company: ST. PAUL FIRE & MARINE INSURANCE COMPANY
INSURED
JF CHINA REGION FUND, INC. 	Policy Inception/Effective Date:09/30/08
C/O JP MORGAN ASSET MANAGEMENT Agency Number: 3180284
245 PARK AVENUE			 FRANK CRYSTAL & COMPANY
NEW YORK NY 10167			Transaction Type:
					RENEWAL - 490BD0733
					Transaction number:
					Processing date: 09/15/2008
					Policy Number: 490BD0845

Policy Inception/Effective Date:09/30/08
Agency Number: 3180284
FRANK CRYSTAL & COMPANY
Transaction Type:
RENEWAL - 490BD0733
Transaction number:
Processing date: 09/15/2008
Policy Number: 490BD0845

AGENT
FRANK CRYSTAL & COMPANY
32 OLD SLIP - FINANCIAL SQUARE
NEW YORK, NY 10005
Policy		Description 		Amount 		Surtax/
Number 							Surcharge
490BD0845 		FI - ICBB 	$3,700
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss

40724 Ed.12-90 Printed in U.S.A. INSURED COPY Page 2
The hard copy of the bond issued by the Underwriter
will be referenced in the event of a loss


ND044 Rev. 1-08 Page 1 of 1
IMPORTANT NOTICE - INDEPENDENT AGENT AND BROKER COMPENSATION
NO COVERAGE IS PROVIDED BY THIS NOTICE. THIS NOTICE DOES NOT
AMEND ANY PROVISION OF YOUR POLICY. YOU SHOULD REVIEW YOUR
ENTIRE POLICY CAREFULLY FOR COMPLETE INFORMATION ON THE
COVERAGES PROVIDED AND TO DETERMINE YOUR RIGHTS AND DUTIES
UNDER YOUR POLICY.
LEASE CONTACT YOUR AGENT OR BROKER IF YOU HAVE ANY QUESTIONS
ABOUT THIS NOTICE OR ITS CONTENTS. IF THERE IS ANY CONFLICT
BETWEEN YOUR POLICY AND THIS NOTICE, THE PROVISIONS OF YOUR
POLICY PREVAIL.
For information about how Travelers compensates independent
agents and brokers, please visit www.travelers.com, call our
toll-free telephone number, 1-866-904-8348, or you may request
a written copy from Marketing at One Tower Square, 2GSA, Hartford, CT 06183.
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss

ND059 Ed. 11-06 -1
2006 The St. Paul Travelers Companies, Inc. All Rights Reserved
HOW TO REPORT LOSSES, CLAIMS, OR POTENTIAL CLAIMS TO TRAVELERS
Reporting new losses, claims, or potential claims promptly can
be critical. It helps to resolve covered losses or claims as
quickly as possible and often reduces the overall cost.
Prompt reporting:
better protects the interests of all parties;
helps Travelers to try to resolve losses or claims more quickly; and
often reduces the overall cost of a loss or claim - losses or
claims
reported more than five days after they happen cost on average
35% more than those reported earlier.
Report losses, claims, or potential claims to Travelers easily
and quickly by fax, U S mail, or email.
FAX
Use this number to report a loss, claim, or potential claim by
fax toll free.
1-888-460-6622
US MAIL
Use this address to report a loss, claim, or potential claim
by U S Mail.
Bond-FPS Claims Department
Travelers
Mail Code NB08F
385 Washington Street
Saint Paul, Minnesota 55102
EMAIL
Use this address to report a loss, claim, or potential claim by
email.
Pro.E&O.Claim.Reporting@SPT.com
This is a general description of how to report a loss, claim,
or potential claim under this policy or bond. This description
does not replace or add to the terms of this policy or bond.
The policy or bond alone determines the scope of coverage.
Please read it carefully for complete information on coverage.
Contact your agent or broker if you have any questions about coverage.
The hard copy of the bond issued by the Underwriter will be referenced
in the event of a loss

ICB001 Rev. 7/04
2004 The Travelers Companies, Inc. Page 1 of 2
INVESTMENT COMPANY BLANKET BOND
St. Paul Fire and Marine Insurance Company
St. Paul, Minnesota 55102-1396
(A Stock Insurance Company, herein called Underwriter)
DECLARATIONS 				BOND NO. 490BD0845
Item 1.
Name of Insured (herein called Insured):
JF CHINA REGION FUND, INC.
Principal Address:
c/o JP Morgan Asset Management
245 Park Avenue
New York, NY 10167
Item 2.
Bond Period from 12:01 a.m. on 09/30/08 to 12:01 a.m. on 09/30/2009
the effective date of the termination or cancellation of the bond,
standard time at the Principal Address as to each of said dates.
Item 3.
Limit of Liability
Subject to Sections 9, 10, and 12 hereof:
								Limit of	Deductible
								Liability	Amount
Insuring Agreement A - FIDELITY 				$525,000	$0
Insuring Agreement B - AUDIT EXPENSE 				$50,000		$5,000
Insuring Agreement C - PREMISES 				$525,000	$25,000
Insuring Agreement D - TRANSIT 					$525,000	$25,000
Insuring Agreement E - FORGERY OR ALTERATION 			$525,000	$25,000
Insuring Agreement F - SECURITIES 				$525,000	$25,000
Insuring Agreement G - COUNTERFEIT CURRENCY 			$525,000	$25,000
Insuring Agreement H - STOP PAYMENT 				$50,000		$5,000
Insuring Agreement I - UNCOLLECTIBLE ITEMS OF
DEPOSIT 							$50,000		$5,000
OPTIONAL COVERAGES ADDED BY RIDER:
(J) - COMPUTER SYSTEMS 						$525,000	$25,000
(K) - VOICE INITIATED TRANSACTIONS 				$525,000	$25,000
(L) - TELEFACIMILE SYSTEMS 					$525,000	$25,000
(M) - UNAUTHORIZED SIGNATURES 					$50,000		$5,000
If "Not Covered" is inserted above opposite any specified Insuring
Agreement or Coverage, such Insuring Agreement or Coverage and any
other reference thereto in this bond shall be deemed to be deleted
therefrom.
Item 4.
Offices or Premises Covered - Offices acquired or established
subsequent to the effective date of this bond are covered
according to the terms of
General Agreement A. All the Insured's offices or premises
in existence at the time this bond becomes effective are
covered under this bond except the offices or premises
located as follows: N/A
The hard copy of the bond issued by the Underwriter will
be referenced in the event of a loss

ICB001 Rev. 7/04
2004 The Travelers Companies, Inc. Page 2 of 2
Item 5.
The liability of the Underwriter is subject to the
terms of the following
endorsements or riders attached hereto:
Endorsements or Riders No. 1
through
ICB001 Rev. 7/04, ICB011 Ed. 7-04, ICB012 Ed. 7-04, ICB013 Ed. 7-04,
ICB014 Ed. 7-04, ICB016 Ed. 7-04, ICB022 Ed. 7-04, ICB026 Ed. 7-04,
ICB057 Ed. 4-05
Item 6.
The Insured by the acceptance of this bond gives notice to the
Underwriter terminating or canceling prior bonds or
policy(ies) No.(s)
490BD0733 such termination or cancellation to be effective
as of the time this bond becomes effective.
IN WITNESS WHEREOF, the Company has caused this bond to be
signed by its President and Secretary and countersigned by a
duly authorized representative of the Company.
Countersigned:
ST. PAUL FIRE AND MARINE INSURANCE COMPANY
Authorized Representative Countersigned At
Countersignature Date
/s/Bruce Backberg, Secretary
/s/Brian MacLean, President
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss

ICB005 Ed. 7-04	1 of 12
2004 The St. Paul Travelers Companies, Inc. All Right Reserved
INVESTMENT COMPANY BLANKET BOND
The Underwriter, in consideration of an agreed premium, and
subject to
the Declarations made a part hereof, the General Agreements,
Conditions and Limitations and other terms of this bond, agrees
with the Insured, in accordance with the Insuring Agreements
hereof to which an amount of insurance is applicable as set forth in
Item 3 of the Declarations and with respect to loss sustained by the
Insured at any time but discovered during the Bond Period, to indemnify
and hold harmless the Insured for:
INSURING AGREEMENTS
(A) FIDELITY
Loss resulting from any dishonest or fraudulent act(s), including
Larceny or Embezzlement, committed by an Employee, committed anywhere
and whether committed alone or in collusion with others, including loss of
Property resulting from such acts of an Employee, which Property is held
by the Insured for any purpose or in any capacity and whether so held
gratuitously or not and whether or not the Insured is liable therefor.
Dishonest or fraudulent act(s) as used in this Insuring Agreement shall
mean only dishonest or fraudulent act(s) committed by such Employee with
the manifest intent:
(a) to cause the Insured to sustain such loss; and
(b) to obtain financial benefit for the Employee, or for any other Person or
organization intended by the Employee to receive such benefit, other than
salaries,commissions, fees, bonuses, promotions, awards, profit sharing,
pensions or other employee benefits earned in the normal course of
employment.
(B) AUDIT EXPENSE
Expense incurred by the Insured for that part of the costs of audits or
examinations required by any governmental regulatory authority to be
conducted either by such authority or by an independent accountant by
reason of the discovery of loss sustained by the Insured through any
dishonest or fraudulent act(s), including Larceny or Embezzlement,
of any of the Employees. The total liability of the Underwriter for
such expense by reason of such acts of any Employee or in which such
Employee is concerned or implicated or with respect to any one audit
or examination is limited to the amount stated opposite Audit
Expense in Item 3 of the
Declarations; it being understood, however, that such expense shall
be deemed to be a loss sustained by the Insured through any dishonest
or fraudulent act(s), including Larceny or Embezzlement, of one or
more of the Employees, and the liability under this paragraph shall
be in addition to the Limit of Liability stated in Insuring Agreement
(A) in Item 3 of the Declarations.
(C) ON PREMISES
Loss of Property (occurring with or without negligence or violence)
through robbery, burglary, Larceny, theft, holdup, or other fraudulent
means, misplacement, mysterious unexplainable disappearance, damage
thereto or destruction thereof, abstraction or removal from the possession,
custody or control of the Insured, and loss of subscription, conversion,
redemption or deposit privileges through the misplacement or loss of
Property, while the Property is (or is supposed or believed by the
Insured to be) lodged or deposited within any offices or premises
located anywhere, except in an office listed in Item 4 of the
Declarations or amendment thereof or in the mail or with a
carrier for hire, other than an armored motor vehicle company,
for the purpose of transportation.
Office and Equipment
(1) loss of or damage to furnishings, fixtures, stationery,
supplies or equipment, within any of the Insured's offices
covered under this bond caused by Larceny or theft in, or
by burglary, robbery or hold-up of, such office, or attempt
thereat, or by vandalism or malicious mischief; or
(2) loss through damage to any such office by Larceny or
theft in, or by burglary, robbery or hold-up of, such office,
or attempt thereat, or to the interior of any such office by
vandalism or malicious mischief provided, in any event, that
the Insured is the owner of such offices, furnishings, fixtures,
stationery, supplies or equipment or is legally liable for such
loss or damage always excepting, however, all loss or damage
through fire.
(D) IN TRANSIT
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss

ICB005 Ed. 7-04	2 of 12
2004 The St. Paul Travelers Companies, Inc. All Right Reserved
Loss of Property (occurring with or without negligence or violence)
through robbery, Larceny, theft, hold-up, misplacement,
mysterious unexplainable disappearance, being lost or
otherwise made away with, damage thereto or destruction
thereof, and loss of subscription, conversion, redemption or
deposit privileges through the misplacement or loss of Property,
while the Property is in transit anywhere in the custody of any
person or persons acting as messenger, except while in the mail
or with a carrier for hire, other than an armored motor vehicle
company, for the purpose of transportation, such transit to begin
immediately upon receipt of such Property by the transporting person
or persons, and to end immediately upon delivery thereof at destination.
(E) FORGERY 0R ALTERATION
Loss through Forgery or alteration of or on:
(1) any bills of exchange, checks, drafts, acceptances, certificates
of deposit, promissory notes, or other written promises, orders or
directions to pay sums certain in money, due bills, money orders,
warrants, orders upon public treasuries, letters of credit; or
(2) other written instructions, advices or applications directed
to the Insured, authorizing or acknowledging the transfer, payment,
delivery or receipt of funds or Property, which instructions,
advices or applications purport to have been signed or endorsed
by any:
(a) customer of the Insured, or
(b) shareholder or subscriber to shares, whether certificated
or uncertificated, of any Investment Company, or
(c) financial or banking institution or stockbroker,
but which instructions, advices or applications either bear
the forged signature or endorsement or have been altered without
the knowledge and consent of such customer, shareholder or
subscriber to shares, or financial or banking institution or
stockbroker; or
(3) withdrawal orders or receipts for the withdrawal of funds
or Property, or receipts or certificates of deposit for Property
and bearing the name of the Insured as issuer, or of another
Investment Company for which the Insured acts as agent, excluding,
however, any loss covered under Insuring Agreement (F) hereof
whether or not coverage for Insuring Agreement (F) is provided
for in the Declarations of this bond.
Any check or draft (a) made payable to a fictitious payee and
endorsed in the name of such fictitious payee or (b) procured
in a transaction with the maker or drawer thereof or with one
acting as an agent of such maker or drawer or anyone impersonating
another and made or drawn payable to the one so impersonated
and endorsed by anyone other than the one impersonated, shall
be deemed to be forged as to such endorsement.
Mechanically reproduced facsimile signatures are treated
the same as handwritten signatures.
(F) SECURITIES
Loss sustained by the Insured, including loss sustained
by reason of a violation of the constitution by-laws, rules
or regulations of any
Self Regulatory Organization of which the Insured is a member
or which would have been imposed upon the Insured by the
constitution, by-laws, rules or regulations of any Self
Regulatory Organization if the Insured had been a member thereof,
(1) through the Insured's having, in good faith and in the
course of business, whether for its own account or for the
account of others, in any representative, fiduciary,
agency or any other capacity, either gratuitously or
otherwise, purchased or otherwise acquired, accepted or
received, or sold or delivered, or given any value,
extended any credit or assumed any liability, on the faith of,
or otherwise acted upon, any securities, documents or other
written instruments which prove to have been:
(a) counterfeited, or
(b) forged as to the signature of any maker, drawer, issuer,
endorser, assignor, lessee, transfer agent or registrar,
acceptor, surety or guarantor or as to the signature of any
person signing in any other capacity, or
(c) raised or otherwise altered, or lost, or stolen, or
(2) through the Insured's having, in good faith and in the
course of business, guaranteed in writing or witnessed any
signatures whether for valuable consideration or not and
whether or not such guaranteeing or witnessing is ultra vires
the Insured, upon any transfers,
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss

ICB005 Ed. 7-04	3 of 12
2004 The St. Paul Travelers Companies, Inc. All Right Reserved
assignments, bills of sale, powers of attorney, guarantees,
endorsements or other obligations upon or in connection with
any securities, documents or other written instruments and
which pass or purport to pass title to such securities,
documents or other written instruments; excluding losses
caused by Forgery or alteration of, on or in those instruments
covered under Insuring Agreement (E) hereof.
Securities, documents or other written instruments shall
be deemed to mean original (including original counterparts)
negotiable or non-negotiable agreements which in and of
themselves represent an equitable interest, ownership, or debt,
including an assignment thereof, which instruments are,
in the ordinary course of business, transferable by delivery
of such agreements with any necessary endorsement or assignment.
The word "counterfeited" as used in this Insuring Agreement
shall be deemed to mean any security, document or other
written instrument which is intended to deceive and to be
taken for an original.
Mechanically reproduced facsimile signatures are treated
the same as handwritten signatures.
(G) COUNTERFEIT CURRENCY
Loss through the receipt by the Insured, in good faith,
of any counterfeited money orders or altered paper currencies
or coin of the United States of America or Canada issued
or purporting to have been issued by the United States of
America or Canada or issued pursuant to a United States of
America or Canada statute for use as currency.
(H) STOP PAYMENT
Loss against any and all sums which the Insured shall become
obligated to pay by reason of the liability imposed upon the
Insured by law for damages:
For having either complied with or failed to comply with
any written notice of any customer, shareholder or subscriber
of the Insured or any Authorized Representative of such customer,
shareholder or subscriber to stop payment of any check or
draft made or drawn by such customer, shareholder or subscriber
or any Authorized Representative of such customer, shareholder
or subscriber, or
For having refused to pay any check or draft made or drawn by
any customer, shareholder or subscriber of the Insured or any
Authorized Representative of such customer, shareholder or subscriber.
(I) UNCOLLECTIBLE ITEMS OF DEPOSIT
Loss resulting from payments of dividends or fund shares, or
withdrawals permitted from any customer's, shareholder's, or subscriber's
account based upon Uncollectible Items of Deposit of a customer,
shareholder or subscriber credited by the Insured or the Insured's
agent to such customer's, shareholder's or subscriber's Mutual Fund
Account; or loss resulting from an Item of Deposit processed through an
Automated Clearing House which is reversed by the customer, shareholder
or subscriber and deemed uncollectible by the Insured.
Loss includes dividends and interest accrued not to exceed 15%
of the Uncollectible Items which are deposited.
This Insuring Agreement applies to all Mutual Funds with
"exchange privileges" if all Fund(s) in the exchange program
are insured by the Underwriter for Uncollectible Items of Deposit.
Regardless of the number of transactions between Fund(s),
the minimum number of days of deposit within the Fund(s)
before withdrawal as declared in the Fund(s) prospectus shall
begin from the date a deposit was first credited to any Insured Fund(s).
GENERAL AGREEMENTS
A. ADDITIONAL OFFICES OR EMPLOYEES CONSOLIDATION OR MERGER - NOTICE
(1) If the Insured shall, while this bond is in force, establish any
additional office or offices, such offices shall be automatically
covered hereunder from the dates of their establishment, respectively.
No notice to the Underwriter of an increase during any premium period
in the number of offices or in the number of Employees at any of the
offices covered hereunder need be given and no additional premium need
be paid for the remainder of such premium period.
(2) If an Investment Company, named as Insured herein, shall, while this
bond is in force, merge or consolidate with, or purchase the assets of
another institution, coverage for such acquisition shall apply automatically
The hard copy of the bond issued by the Underwriter will be referenced
in the event of a loss

ICB005 Ed. 7-04	4 of 12
2004 The St. Paul Travelers Companies, Inc. All Right Reserved
from the date of acquisition. The Insured shall notify the Underwriter
of such acquisition within 60 days of said date, and an additional
premium shall be computed only if such acquisition involves additional
offices or employees.
B. WARRANTY
No statement made by or on behalf of the Insured, whether contained in
the application or otherwise, shall be deemed to be a warranty of
anything except that it is true to the best of the knowledge and
belief of the person making the statement.
C. COURT COSTS AND ATTORNEYS' FEES
(Applicable to all Insuring Agreements or Coverages now or
hereafter forming part of this bond)
The Underwriter will indemnify the Insured against court costs
and reasonable attorneys' fees incurred and paid by the Insured
in defense, whether or not successful, whether or not fully litigated
on the merits and whether or not settled, of any suit or legal
proceeding brought
against the Insured to enforce the Insured's liability or alleged
liability on account of any loss, claim or damage which, if
established against the Insured, would constitute a loss sustained
by the Insured covered under the terms of this bond provided, however,
that with respect to Insuring Agreement (A) this indemnity shall
apply only in the event that:
(1) an Employee admits to being guilty of any dishonest or fraudulent
act(s), including Larceny or Embezzlement; or
(2) an Employee is adjudicated to be guilty of any dishonest or
fraudulent act(s), including Larceny or Embezzlement;
(3) in the absence of (1) or (2) above an arbitration panel agrees,
after a review of an agreed statement of facts, that an Employee
would be found guilty of dishonesty if such Employee were prosecuted.
The Insured shall promptly give notice to the Underwriter of any such
suit or legal proceedings and at the request of the Underwriter shall
furnish it with copies of all pleadings and other papers therein.
At the Underwriter's election the Insured shall permit the Underwriter
to conduct the defense of such suit or legal proceeding, in the Insured's
name, through attorneys of the Underwriter's selection. In such event,
the Insured shall give all reasonable information and assistance
which the Underwriter shall deem necessary to the proper defense
of such suit or legal proceeding.
If the amount of the Insured's liability or alleged liability is
greater than the amount recoverable under this bond, or if a
Deductible Amount is
applicable, or both, the liability of the Underwriter under
this General Agreement is limited to the proportion of court
costs and attorneys' fees incurred and paid by the Insured or
by the Underwriter that the amount recoverable under this
bond bears to the total of such amount plus the amount
which is not so recoverable. Such indemnity shall be in
addition to the Limit of Liability for the applicable Insuring
Agreement or Coverage.
D. FORMER EMPLOYEE
Acts of an Employee, as defined in this bond, are covered under
Insuring Agreement (A) only while the Employee is in the Insured's
employ. Should loss involving a former Employee of the Insured be
discovered subsequent to the termination of employment, coverage
would still apply under Insuring Agreement (A) if the direct
proximate cause of the loss occurred while the former Employee
performed duties within the scope of his/her employment.
THE FOREGOING INSURING AGREEMENTS AND GENERAL AGREEMENTS ARE
SUBJECT TO THE FOLLOWING CONDITIONS AND LIMITATIONS:
SECTION 1. DEFINITIONS
The following terms, as used in this bond have the respective
meanings stated in this Section:
(a) "Employee" means:
(1) any of the Insured's officers, partners, or and employees, and
(2) any of the officers or employees of any predecessor of the
Insured whose principal assets are acquired by the Insured by
consolidation or merger with, or purchase of assets or capital stock
of, such predecessor, and
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss

ICB005 Ed. 7-04	5 of 12
2004 The St. Paul Travelers Companies, Inc. All Right Reserved
(3) attorneys retained by the Insured to perform legal services
for the Insured and the employees of such attorneys while such
attorneys or employees of such attorneys are performing such
services for the Insured, and
(4) guest students pursuing their studies or duties in any of
the Insured's offices, and
(5) directors or trustees of the Insured, the investment advisor,
underwriter (distributor), transfer agent, or shareholder accounting
record keeper, or administrator authorized by written agreement to
keep financial and/or other required records, but only while
performing acts coming within the scope of the usual duties of an
officer or employee or while acting as a member of any committee
duly elected or appointed to examine or audit or have custody of or
access to the Property of the Insured, and
(6) any individual or individuals assigned to perform the usual
duties of an employee within the premises of the Insured, by
contract, or by any agency furnishing temporary personnel
on a contingent or part-time basis, and
(7) each natural person, partnership or corporation authorized
by written agreement with the Insured to perform services as
electronic data processor of checks or other accounting
records of the Insured, but excluding any such processor who
acts as transfer agent or in any other agency capacity in
issuing checks, drafts or securities for the
Insured, unless included under sub-section (9) hereof, and
(8) those persons so designated in Section 15, Central
Handling of Securities, and
(9) any officer, partner, or Employee of:
(a) an investment advisor,
(b) an underwriter (distributor),
(c) a transfer agent or shareholder accounting record-keeper, or
(d) an administrator authorized by written agreement to keep
financial and/or other required records,
for an Investment Company named as Insured while performing
acts coming within the scope of the usual duties of an officer
or Employee of any
investment Company named as Insured herein, or while acting as
a member of any committee duly elected or appointed to examine
or audit or have custody of or access to the Property of any
such Investment Company, provided that only Employees or
partners of a transfer agent, shareholder accounting record-keeper
or administrator which is an affiliated person, as defined
in the Investment Company Act of 1940, of an Investment Company
named as Insured or is an affiliated person of the advisor,
underwriter or administrator of such Investment Company, and
which is not a bank, shall be included within the definition
of Employee.
Each employer of temporary personnel or processors as set forth
in sub-sections (6) and (7) of Section 1(a) and their partners,
officers and
employees shall collectively be deemed to be one person for
all the purposes of this bond, excepting, however, the last
paragraph of Section 13.
Brokers, or other agents under contract or representatives
of the same general character shall not be considered Employees.
(b) "Property" means money (i.e. currency, coin, bank notes,
Federal Reserve notes), postage and revenue stamps, U.S.
Savings Stamps, bullion,
precious metals of all kinds and in any form and articles
made therefrom, jewelry, watches, necklaces, bracelets, gems,
precious and semi-precious stones, bonds, securities, evidences
of debts, debentures, scrip, certificates, interim receipts, warrants,
rights, puts, calls, straddles,
spreads, transfers, coupons, drafts, bills of exchange, acceptances,
notes, checks, withdrawal orders, money orders, warehouse receipts,
bills of lading, conditional sales contracts, abstracts of title,
insurance policies, deeds, mortgages under real estate and/or chattels
and upon interests therein, and assignments of such policies,
mortgages and instruments, and other valuable papers, including
books of account and other records used by the Insured in the
conduct of its business, and all other instruments similar to or
in the nature of the foregoing including
Electronic Representations of such instruments enumerated above
(but excluding all data processing records) in which the Insured
has an interest or in which the Insured acquired or should have
acquired an interest by reason of a predecessor's declared financial
condition at the
time of the Insured's consolidation or merger with, or purchase
of the principal assets of, such predecessor or which are held
by the Insured for any purpose or in any capacity and whether
so held gratuitously or not and whether or not the Insured is
liable therefor.
(c) "Forgery" means the signing of the name of another with intent
to deceive; it does not
The hard copy of the bond issued by the Underwriter will
be referenced in the event of a loss

ICB005 Ed. 7-04	6 of 12
2004 The St. Paul Travelers Companies, Inc. All Right Reserved
include the signing of one's own name with or without authority,
in any capacity, for any purpose.
(d) "Larceny and Embezzlement" as it applies to any named
Insured means those acts as set forth in Section 37 of the
Investment Company Act of
1940.
(e) "Items of Deposit" means any one or more checks and
drafts. Items of Deposit shall not be deemed uncollectible
until the Insured's collection procedures have failed.
SECTION 2. EXCLUSIONS THIS BOND, DOES NOT COVER:
(a) loss effected directly or indirectly by means of forgery
or alteration of, on or in any instrument, except when covered
by Insuring Agreement (A), (E), (F) or (G).
(b) loss due to riot or civil commotion outside the United
States of America and Canada; or loss due to military, naval
or usurped power, war or insurrection unless such loss occurs
in transit in the circumstances recited in Insuring Agreement (D),
and unless, when such transit was initiated, there was no knowledge
of such riot, civil commotion, military, naval or usurped power,
war or insurrection on the part of any person acting for the
Insured in initiating such transit.
(c) loss, in time of peace or war, directly or indirectly
caused by or resulting from the effects of nuclear fission or
fusion or radioactivity; provided, however, that this paragraph
shall not apply to loss resulting from industrial uses of nuclear
energy.
(d) loss resulting from any wrongful act or acts of any person
who is a member of the Board of Directors of the Insured or a
member of any equivalent body by whatsoever name known unless
such person is also an Employee or an elected official, partial
owner or partner of the Insured in some other capacity, nor,
in any event, loss resulting from the act or acts of any person
while acting in the capacity of a member of such Board or equivalent body.
(e) loss resulting from the complete or partial non-payment of,
or default upon, any loan or transaction in the nature of, or
amounting to,
a loan made by or obtained from the Insured or any of its partners,
directors or Employees, whether authorized or unauthorized
and whether procured in good faith or through trick, artifice fraud o
r false pretenses, unless such loss is covered under Insuring Agreement
(A), (E) or (F).
(f) loss resulting from any violation by the Insured or by any Employee:
(1) of law regulating (a) the issuance, purchase or sale of securities,
(b) securities transactions upon Security Exchanges or over the counter market,
(c) Investment Companies, or (d) Investment Advisors, or
(2) of any rule or regulation made pursuant to any such law.
unless such loss, in the absence of such laws, rules or regulations,
would be covered under Insuring Agreements (A) or (E).
(g) loss of Property or loss of privileges through the misplacement
or loss of Property as set forth in Insuring Agreement (C) or (D) while
the Property is in the custody of any armored motor vehicle company,
unless such loss shall be in excess of the amount recovered or
received by the Insured under (a) the Insured's contract with said
armored motor vehicle company, (b) insurance carried by said armored
motor vehicle company for the benefit of users of its service, and
(c) all other insurance and indemnity in force in whatsoever form
carried by or for the benefit of users of said armored motor vehicle
company's service, and then this bond shall cover only such excess.
(h) potential income, including but not limited to interest and
dividends, not realized by the Insured because of a loss covered
under this bond, except as included under Insuring Agreement (I).
(i) all damages of any type for which the Insured is legally liable,
except direct compensatory damages arising from a loss covered under
this bond.
(j) loss through the surrender of Property away from an office of the
Insured as a result of a threat:
(1) to do bodily harm to any person, except loss of Property
in transit in the custody of any person acting as messenger
provided that when such transit was initiated there was no
knowledge by the Insured of any such threat, or
(2) to do damage to the premises or Property of the Insured,
except when
covered under Insuring Agreement (A).
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss

ICB005 Ed. 7-04	7 of 12
2004 The St. Paul Travelers Companies, Inc. All Right Reserved
(k) all costs, fees and other expenses incurred by the Insured
in establishing the existence of or amount of loss covered under
this bond
unless such indemnity is provided for under Insuring Agreement (B).
(l) loss resulting from payments made or withdrawals from the
account of a customer of the Insured, shareholder or subscriber
to shares involving funds erroneously credited to such account,
unless such payments are made to or withdrawn by such depositors
or representative of such person, who is within the premises of
the drawee bank of the Insured or within the office of the Insured
at the time of such payment or withdrawal or unless such payment
is covered under Insuring Agreement (A).
(m) any loss resulting from Uncollectible Items of Deposit which
are drawn from a financial institution outside the fifty states of
the United States of America, District of Columbia, and territories
and possessions of the United States of America, and Canada.
SECTION 3. ASSIGNMENT OF RIGHTS
This bond does not afford coverage in favor of any Employers of
temporary personnel or of processors as set forth in sub-sections
(6) and (7) of Section 1(a) of this bond, as aforesaid, and upon
payment to the Insured by the Underwriter on account of any loss
through dishonest or fraudulent act(s) including Larceny or
Embezzlement committed by any of the partners, officers or
employees of such Employers, whether acting alone or in
collusion with others, an assignment of such of the Insured's
rights and causes of action as it may have against such Employers
by reason of such acts so committed shall, to the extent of
such payment, be given by the Insured to the Underwriter,
and the Insured shall execute all papers necessary to secure
to the Underwriter the rights herein provided for.
SECTION 4. LOSS -NOTICE -PROOF LEGAL PROCEEDINGS
This bond is for the use and benefit only of the Insured
named in the Declarations and the Underwriter shall not be
liable hereunder for loss sustained by anyone other than
the Insured unless the Insured, in its sole discretion and
at its option, shall include such loss in the Insured's
proof of loss. At the earliest practicable moment after
discovery of any loss hereunder the Insured shall give the
Underwriter written notice thereof and shall also within
six months after such discovery furnish to the Underwriter
affirmative proof of loss with full particulars. If claim is
made under this bond for loss of securities or shares, the
Underwriter shall not be liable unless each of such securities
or shares is identified in such proof of loss by a certificate
or bond number or, where such securities or shares are uncertificated,
by such identification means as agreed to by the Underwriter.
The Underwriter shall have thirty days after notice and proof
of loss within which to investigate the claim, but where the
loss is clear and undisputed, settlement shall be made
within forty-eight hours; and this shall apply notwithstanding
the loss is made up wholly or in part of securities of which
duplicates may be obtained. Legal proceedings for recovery
of any loss hereunder shall not be brought prior to the
expiration of sixty days after such proof of loss is filed
with the Underwriter nor after the expiration of twenty-four
months from the discovery of such loss, except that any
action or proceedings to recover hereunder on account of
any judgment against the Insured in any suit mentioned in
General Agreement C or to recover attorneys' fees paid in
any such suit, shall be begun within twenty-four months from
the date upon which the judgment in such suit shall become final.
If any limitation embodied in this bond is prohibited by any
law controlling the construction hereof, such limitation shall
be deemed to be amended so as to be equal to the minimum period
of limitation permitted by such law.
Discovery occurs when the Insured:
(a) becomes aware of facts, or
(b) receives written notice of an actual or potential claim by
a third party which alleges that the Insured is liable under
circumstances, which would cause a reasonable person to assume
that a loss covered by the bond has been or will be incurred
even though the exact amount or details of loss may not be then known.
SECTION 5. VALUATION OF PROPERTY
The value of any Property, except books of accounts or other
records used by the Insured in the conduct of its business,
for the loss of which a claim shall be made hereunder, shall
be determined by the average market value of such Property on
 the business day next preceding the discovery of such loss;
provided, however, that the value of any Property replaced by
the Insured prior to the payment of claim therefor shall be
the actual market value at the time of replacement; and further
provided that in case of a loss or misplacement of interim
certificates, warrants, rights, or other securities, the
production of which is necessary to the exercise of subscription,
conversion, redemption or deposit privileges, the value thereof
shall be the market value of such privileges
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss

ICB005 Ed. 7-04	8 of 12
2004 The St. Paul Travelers Companies, Inc. All Right Reserved
immediately preceding the expiration thereof if said loss or
misplacement is not discovered until after their expiration.
If no market price is quoted for such Property or for such privileges,
the value shall be fixed by agreement between the parties or by arbitration.
In case of any loss or damage to Property consisting of books of
accounts or other records used by the Insured in the conduct of
its business, the
Underwriter shall be liable under this bond only if such books
or records are actually reproduced and then for not more than the
cost of blank books, blank pages or other materials plus the cost
of labor for the actual transcription or copying of data which
shall have been furnished by the Insured in order to reproduce
such books and other records.
SECTION 6. VALUATION OF PREMISES AND FURNISHINGS
In case of damage to any office of the Insured, or loss of or
damage to the furnishings, fixtures, stationery, supplies,
equipment, safes or vaults therein, the Underwriter shall not
be liable for more than the actual cash value thereof, or for
more than the actual cost of their replacement or repair.
The Underwriter may, at its election, pay such actual cash value
or make such replacement or repair. If the underwriter and the
Insured cannot agree upon such cash value or such cost of
replacement or repair, such shall be determined by arbitration.
SECTION 7. LOST SECURITIES
If the Insured shall sustain a loss of securities the total
value of which is in excess of the limit stated in Item 3 of
the Declarations of this bond, the liability of the Underwriter
shall be limited to payment for, or duplication of, securities
having value equal to the limit stated in Item 3 of the Declarations
of this bond.
If the Underwriter shall make payment to the Insured for any
loss of securities, the Insured shall thereupon assign to the Underwriter
all of the Insured's rights, title and interest in and to said securities.
With respect to securities the value of which do not exceed the
Deductible Amount (at the time of the discovery of the loss) and
for which the Underwriter may at its sole discretion and option and at the
request of the Insured issue a Lost Instrument Bond or Bonds to effect
replacement thereof, the Insured will pay the usual premium charged
therefor and will indemnify the Underwriter against all loss or
expense that the Underwriter may sustain because of the issuance of
such Lost Instrument Bond or Bonds.
With respect to securities the value of which exceeds the Deductible
Amount (at the time of discovery of the loss) and for which the
Underwriter may issue or arrange for the issuance of a Lost
Instrument Bond or Bonds to effect replacement thereof, the
Insured agrees that it will pay as premium therefor a proportion
of the usual premium charged therefor, said proportion being equal
to the percentage that the Deductible Amount bears to the value
of the securities upon discovery of the loss, and that it will
indemnify the issuer of said Lost Instrument Bond or Bonds against
all loss and expense that is not recoverable from the Underwriter
under the terms and conditions of this Investment Company Blanket
Bond subject to the Limit of Liability hereunder.
SECTION 8. SALVAGE
in case of recovery, whether made by the Insured or by the Underwriter,
on account of any loss in excess of the Limit of Liability hereunder
plus the Deductible Amount applicable to such loss, from any
source other than suretyship, insurance, reinsurance, security
or indemnity taken by or for the benefit of the Underwriter, the
net amount of such recovery, less the actual costs and expenses of
making same, shall be applied to reimburse the Insured in full for
the excess portion of such loss, and the remainder, if any, shall
be paid first in reimbursement of the Underwriter and thereafter
in reimbursement of the Insured for that part of such loss within
the Deductible Amount. The Insured shall execute all necessary
papers to secure to the Underwriter the rights provided for herein.
SECTION 9. NON-REDUCTION AND NONACCUMULATION OF LIABILITY AND TOTAL
LIABILITY
At all times prior to termination hereof, this bond shall
continue in force for the limit stated in the applicable sections
of Item 3 of the Declarations of this bond notwithstanding any
previous loss for which the Underwriter may have paid or be
liable to pay hereunder; PROVIDED, however, that regardless of the
number of years this bond shall continue in force and the number or
premiums which shall be payable or paid, the liability of the
Underwriter under this bond with respect to all loss resulting from:
(a) any one act of burglary, robbery or holdup, or attempt thereat,
in which no Partner or Employee is concerned or implicated shall be
deemed to be one loss, or
(b) any one unintentional or negligent act on the part of any other
person resulting in damage to or destruction or misplacement of
Property, shall be deemed to be one loss, or
The hard copy of the bond issued by the Underwriter will be referenced
in the event of a loss

ICB005 Ed. 7-04	9 of 12
2004 The St. Paul Travelers Companies, Inc. All Right Reserved
(c) all wrongful acts, other than those specified in (a) above, of any
one person shall be deemed to be one loss, or
(d) all wrongful acts, other than those specified in (a) above, of
one or more persons (which dishonest act(s) or act(s) of Larceny or
Embezzlement include, but are not limited to, the failure of an
Employee to report such acts of others) whose dishonest act or
acts intentionally or unintentionally, knowingly or unknowingly,
directly or indirectly, aid or aids in any way, or permits the
continuation of, the dishonest act or acts of any other person or
persons shall be deemed to be one loss with the act or acts of the
persons aided, or
(e) any one casualty or event other than those specified in (a), (b),
(c) or (d) preceding, shall be deemed to be one loss, and shall be
limited to the applicable Limit of Liability stated in Item 3 of the
Declarations of this bond irrespective of the total amount of such
loss or losses and shall not be cumulative in amounts from year to
year or from period to period.
Sub-section (c) is not applicable to any situation to which the
language of sub-section (d) applies.
SECTION 10. LIMIT OF LIABILITY
With respect to any loss set forth in the PROVIDED clause of
Section 9 of this bond which is recoverable or recovered in
whole or in part under any other bonds or policies issued by the
Underwriter to the Insured or to any predecessor in interest of
the Insured and terminated or cancelled or allowed to expire and
in which the period of discovery has not expired at the time any
such loss thereunder is discovered, the total liability of the
Underwriter under this bond and under other bonds or policies shall
not exceed, in the aggregate, the amount carried hereunder on such
loss or the amount available to the Insured under such other bonds
or policies, as limited by the terms and conditions thereof, for
any such loss if the latter amount be the larger.
SECTION 11. OTHER INSURANCE
If the Insured shall hold, as indemnity against any loss covered
hereunder, any valid and enforceable insurance or suretyship, the
Underwriter shall be liable hereunder only for such amount of such
loss which is in excess of the amount of such other insurance or
suretyship, not exceeding, however, the Limit of Liability of this
bond applicable to such loss.
SECTION 12. DEDUCTIBLE
The Underwriter shall not be liable under any of the Insuring
Agreements of this bond on account of loss as specified, respectively,
in sub-sections (a), (b), (c), (d) and (e) of Section 9, NON-REDUCTION AND
NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY, unless the amount of
such loss, after deducting the net amount of all reimbursement and/or
recovery obtained or made by the Insured, other than from any bond or
policy of insurance issued by an insurance company and covering such
loss, or by the Underwriter on account thereof prior to payment by the
Underwriter of such loss, shall exceed the Deductible Amount set forth
in Item 3 of the Declarations hereof (herein called Deductible Amount),
and then for such excess only, but in no event for more than the
applicable Limit of Liability stated in Item 3 of the Declarations.
The Insured will bear, in addition to the Deductible Amount, premiums
on Lost Instrument Bonds as set forth in Section 7.
There shall be no deductible applicable to any loss under Insuring
Agreement A sustained by any Investment Company named as Insured herein.
SECTION 13. TERMINATION
The Underwriter may terminate this bond as an entirety by furnishing
written notice specifying the termination date, which cannot be prior
to 60 days after the receipt of such written notice by each Investment
Company named as Insured and the Securities and Exchange Commission,
Washington, D.C. The Insured may terminate this bond as an entirety
by furnishing written notice to the Underwriter. When the Insured
cancels, the Insured shall furnish written notice to the Securities
and Exchange Commission, Washington, D.C., prior to 60 days before
the effective date of the termination. The Underwriter shall notify
all other Investment
Companies named as Insured of the receipt of such termination notice
and the termination cannot be effective prior to 60 days after receipt
of written notice by all other Investment Companies. Premiums are earned
until the termination date as set forth herein.
This Bond will terminate as to any one Insured immediately upon taking
over of such Insured by a receiver or other liquidator or by State or
Federal officials, or immediately upon the filing of a petition under
any State or Federal statute relative to bankruptcy or reorganization
of the Insured, or assignment for the benefit of creditors of the
Insured, or immediately upon such Insured ceasing to exist, whether
through merger into another entity, or by disposition of all of its assets.
The hard copy of the bond issued by the Underwriter will be referenced in
the event of a loss

ICB005 Ed. 7-04	10 of 12
2004 The St. Paul Travelers Companies, Inc. All Right Reserved
The Underwriter shall refund the unearned premium computed at short
rates in accordance with the standard short rate cancellation tables
 if terminated by the Insured or pro rata if terminated for any other reason.
This Bond shall terminate:
(a) as to any Employee as soon as any partner, officer or supervisory
Employee of the Insured, who is not in collusion with such
Employee, shall learn of any dishonest or fraudulent act(s), including
Larceny or Embezzlement on the part of such Employee without prejudice
 to the loss of any Property then in transit in the custody of such
Employee (see Section 16(d)), or (b) as to any Employee 60 days after
receipt by each Insured and by the Securities and Exchange Commission
of a written notice from the Underwriter of its desire to terminate
this bond as to such Employee, or
(c) as to any person, who is a partner, officer or employee of any
Electronic Data Processor covered under this bond, from and after
the time that the Insured or any partner or officer thereof not in
collusion with such person shall have knowledge or information that
such person has committed any dishonest or fraudulent act(s),
including Larceny or Embezzlement in the service of the Insured or
otherwise, whether such act be committed before or after the time
this bond is effective.
SECTION 14. RIGHTS AFTER TERMINATION OR CANCELLATION
At any time prior to the termination or cancellation of this bond
as an entirety, whether by the Insured or the Underwrite, the
Insured may give the Underwriter notice that it desires under this
bond an additional period of 12 months within which to discover
loss sustained by the Insured prior to the effective date of such
termination or cancellation and shall pay an additional premium therefor.
Upon receipt of such notice from the Insured, the Underwriter shall
give its written consent thereto; provided, however, that such
additional period of time shall terminate immediately:
(a) on the effective date of any other insurance obtained by the
Insured, its successor in business or any other party, replacing
in whole or in part the insurance afforded by this bond, whether
or not such other insurance provides coverage for loss sustained
prior to its effective date, or
(b) upon takeover of the Insured's business by any State or Federal
official or agency, or by any receiver or liquidator, acting or
appointed for this purpose without the necessity of the Underwriter
giving notice of such termination. In the event that such additional
period of time is terminated, as provided above, the Underwriter
shall refund any unearned premium.
The right to purchase such additional period for the discovery
of loss may not be exercised by any State or Federal official or
agency, or by a receiver or liquidator, acting or appointed to take
over the Insured's business for the operation or for the liquidation
thereof or for any purpose.
SECTION 15. CENTRAL HANDLING OF SECURITIES
Securities included in the system for the central handling of
securities established and maintained by Depository Trust Company,
Midwest Depository Trust Company, Pacific Securities Depository Trust
Company, and Philadelphia Depository Trust Company, hereinafter
called Corporations, to the extent of the Insured's interest
therein as effected by the making of appropriate entries on the
books and records of such Corporations shall be deemed to be Property.
The words "Employee" and 'Employees" shall be deemed to include
the officers, partners, clerks and other employees of the New York
Stock Exchange, Boston Stock Exchange, Midwest Stock Exchange,
Pacific Stock Exchange and Philadelphia Stock Exchange, hereinafter
called Exchanges, and of the above named Corporations, and of any
nominee in whose name is registered any security included within
the systems for the central handling of securities established
and maintained by such Corporations, and any employee or any
recognized service company, while such officers, partners, clerks
and other employees and employees of service companies perform
services for such Corporations in the operation of such systems.
For the purpose of the above definition a recognized service
company shall be any company providing clerks or other personnel
to the said Exchanges or Corporations on a contract basis.
The Underwriter shall not be liable on account of any loss(es)
in connection with the central handling of securities within
the systems established and maintained by such Corporations,
unless such loss(es) shall be in excess of the amount(s)
recoverable or recovered under any bond or policy of insurance
indemnifying such Corporations against such loss(es), and then
the Underwriter shall be liable hereunder
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss

ICB005 Ed. 7-04	11 of 12
2004 The St. Paul Travelers Companies, Inc. All Right Reserved
only for the Insured's share of such excess loss(es), but in no
event for more than the Limit of Liability applicable hereunder.
For the purpose of determining the Insured's share of excess loss(es)
it shall be deemed that the Insured has an interest in any
certificate representing any security included within such
systems equivalent to the interest the Insured then has in all
certificates representing the same security included within such
systems and that such Corporations shall use their best judgment
in apportioning the amount(s) recoverable or recovered under any
bond or policy of insurance indemnifying such Corporations
against such loss(es) in connection with the central handling
of securities within such systems among all those having an
interest as recorded by appropriate entries in the books and
records of such Corporations in Property involved in such
loss(es) on the basis that each such interest shall share
in the amount(s) so recoverable or recovered in the ratio
that the value of each such interest bears to the total value
all such interests and that the Insured's share of such excess
loss(es) shall be the amount of the Insured's interest in such
Property in excess of the amount(s) so apportioned to the
Insured by such Corporations.
This bond does not afford coverage in favor of such Corporations
or Exchanges or any nominee in whose name is registered any security
included within the systems for the central handling of
securities established and maintained by such Corporations,
and upon payment to the Insured by the Underwriter on account
of any loss(es) within the systems, an assignment of such of
the Insured's rights and causes of action as it may have
against such Corporations or Exchanges shall to the extent
 of such payment, be given by the Insured to the Underwriter, and the
Insured shall execute all papers necessary to secure the
Underwriter the rights provided for herein.
SECTION 16. ADDITIONAL COMPANIES INCLUDED AS INSURED
If more than one corporation, co-partnership or person or
 any combination of them be included as the Insured herein:
(a) the total liability of the Underwriter hereunder for
loss or losses sustained by any one or more or all of them
shall not exceed the limit for which the Underwriter would
be liable hereunder if all such loss were sustained by any
one of them;
(b) the one first named herein shall be deemed authorized
to make, adjust and receive and enforce payment of all claims
hereunder and shall be deemed to be the agent of the others
for such purposes and for the giving or receiving of any notice
 required or permitted to be given by the terms hereof,
provided that the Underwriter shall furnish each named
Investment Company with a copy of the bond and with any
amendment thereto, together with a copy of each formal filing of
the settlement of each such claim prior to the execution of such settlement;
(c) the Underwriter shall not be responsible for the proper
application of any payment made hereunder to said first named Insured;
(d) knowledge possessed or discovery made by any partner,
officer of supervisory Employee of any Insured shall for the
purposes of Section 4 and Section 13 of this bond constitute
knowledge or discovery by all the
Insured; and
(e) if the first named Insured ceases for any reason to be
covered under this bond, then the Insured next named shall
thereafter be considered as the first, named Insured for the
purposes of this bond.
SECTION 17. NOTICE AND CHANGE OF CONTROL
Upon the Insured obtaining knowledge of a transfer of its
outstanding voting securities which results in a change in
control (as set forth in Section 2(a) (9) of the Investment
Company Act of 1940) of the Insured, the Insured shall within
thirty (30) days of such knowledge give written notice to the
Underwriter setting forth:
(a) the names of the transferors and transferees (or the names
of the beneficial owners if the voting securities are requested
in another
name), and
(b) the total number of voting securities owned by the transferors
and the transferees (or the beneficial owners), both immediately
before and after the transfer, and
(c) the total number of outstanding voting securities.
As used in this section, control means the power to exercise a
controlling influence over the management or policies of the Insured.
Failing to give the required notice shall result in termination of coverage
of this bond, effective upon the date of stock transfer for any loss
in which any transferee is concerned or implicated.
Such notice is not required to be given in the case of an Insured
which is an Investment Company.
SECTION 18. CHANGE OR MODIFICATION
The hard copy of the bond issued by the Underwriter will be referenced
in the event of a loss

ICB005 Ed. 7-04	12 of 12
2004 The St. Paul Travelers Companies, Inc. All Right Reserved
This bond or any instrument amending or effecting same may not be
changed or modified orally. No changes in or modification thereof
shall be effective unless made by written endorsement issued to
form a part hereof over the signature of the Underwriter's Authorized
Representative. When a bond covers only one Investment Company no
change or modification which would adversely affect the rights of
the Investment Company shall be effective prior to 60 days after
written notification has been furnished to the Securities and
Exchange Commission, Washington, D.C., by the Insured or by the
Underwriter. If more than one Investment Company is named as
the Insured herein, the Underwriter shall give written notice
to each Investment Company and to the Securities and Exchange
Commission, Washington, D.C., not less than 60 days prior to
the effective date of any change or modification which would
adversely affect the rights of such Investment Company.
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss

ICB011 Ed. 7-04 Page 1 of 2
2004 The St. Paul Travelers Companies, Inc. All Rights Reserved
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed
if this endorsement or rider and the Bond or Policy have the
same inception date.
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO.
490BD0845
DATE ENDORSEMENT OR RIDER EXECUTED
09/17/08
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER 12:01 A.M. STANDARD
TIME AS
SPECIFIED IN THE BOND OR POLICY
09/30/08
* ISSUED TO
JF CHINA REGION FUND, INC.
Computer Systems
It is agreed that:
1. The attached bond is amended by adding an additional
Insuring Agreement as follows:
INSURING AGREEMENT J COMPUTER SYSTEMS
Loss resulting directly from a fraudulent
(1) entry of data into, or
(2) change of data elements or program within a Computer System
listed in the SCHEDULE below, provided the fraudulent entry or
change causes
(a) Property to be transferred, paid or delivered,
(b) an account of the Insured, or of its customer, to be added,
deleted, debited or credited, or
(c) an unauthorized account or a fictitious account to be
debited or credited, and provided further, the fraudulent entry
or change is made or caused by an individual acting with the manifest
intent to
(i) cause the Insured to sustain a loss, and
(ii) obtain financial benefit for that individual or for other
 persons
intended by that individual to receive financial benefit.
SCHEDULE
All systems utilized by the Insured
2. As used in this Rider, Computer System means
(a) computers with related peripheral components,
including storage components, wherever located,
(b) systems and applications software,
(c) terminal devices, and
(d) related communication networks
by which data are electronically collected, transmitted,
processed, stored and retrieved.
3. In addition to the exclusions in the attached bond,
the following
exclusions are applicable to this Insuring Agreement:
(a) loss resulting directly or indirectly from the theft of
confidential information, material or data; and
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss

INSURED
ICB011 Ed. 7-04 Page 2 of 2
2004 The St. Paul Travelers Companies, Inc. All Right Reserved
(b) loss resulting directly or indirectly from entries or changes
 made by an individual authorized to have access to a Computer
System who acts in good faith on instructions, unless such
instructions are given to that individual by a software contractor
(or by a partner, officer or employee thereof) authorized by
the Insured to design, develop, prepare, supply, service,
write or implement programs for the Insured's Computer System.
4. The following portions of the attached bond are not applicable
to this
Rider:
(a) the portion preceding the Insuring Agreements which reads
"at any time but discovered during the Bond Period";
(b) Section 9 NONREDUCTION AND NON-ACCUMULATION OF LIABILITY of the
Conditions and Limitations; and
(c) Section 10 LIMIT OF LIABILITY of the Conditions and Limitations.
5. The coverage afforded by this Rider applies only to loss
discovered by the Insured during the period this Rider is in force.
6. All loss or series of losses involving the fraudulent activity
of one individual, or involving fraudulent activity, in which one
individual is implicated, whether or not that individual is
specifically identified, shall be treated as one loss. A series of
losses involving unidentified individuals but arising from the same
method of operation may be deemed by the Underwriter to involve the
same individual and in that event shall be treated as one loss.
7. The Limit of Liability for the coverage provided by this Rider
shall be Five Hundred Twenty Five Thousand Dollars ($525,000 ), it
being understood, however, that such liability shall be a part of
and not in addition to the Limit of Liability stated in Item 3 of
the Declarations of the attached bond or any amendment thereof.
8. The Underwriter shall be liable hereunder for the amount by
which one loss exceeds the Deductible Amount applicable to the
attached bond, but not in excess of the Limit of Liability stated above.
9. If any loss is covered under this Insuring Agreement and any other
Insuring Agreement or Coverage, the maximum amount payable for
such loss shall not exceed the largest amount available under
any one Insuring Agreement or Coverage.
10. Coverage under this Rider shall terminate upon termination
or cancellation of the bond to which this Rider is attached.
Coverage under this Rider may also be terminated or canceled without
canceling the bond as an entirety
(a) 60 days after receipt by the Insured of written notice from the
Underwriter of its desire to terminate or cancel coverage under
this Rider, or
(b) immediately upon receipt by the Underwriter of a written
request from the Insured to terminate or cancel coverage under this Rider.
The Underwriter shall refund to the Insured the unearned premium
for the coverage under this Rider. The refund shall be computed at
short rates if this Rider be terminated or canceled or reduced by
notice from, or at the instance of, the Insured.
Nothing herein contained shall be held to vary, alter, waive, or
extend any of the terms, conditions, provisions, agreements or
limitations of the above mentioned Bond or Policy, other than as
above stated.
By
Authorized Representative
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss

INSURED
ICB012 Ed. 7-04
2004 The St. Paul Travelers Companies, Inc. All Rights Reserved
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed
if this endorsement or rider and the Bond or Policy have the
same inception date.
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO.
490BD0845
DATE ENDORSEMENT OR RIDER EXECUTED
09/17/08
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER 12:01 A.M.
STANDARD TIME AS
SPECIFIED IN THE BOND OR POLICY
09/30/08
* ISSUED TO
JF CHINA REGION FUND, INC.
Unauthorized Signatures
It is agreed that:
1. The attached bond is amended by inserting an additional
Insuring
Agreement as follows:
INSURING AGREEMENT M UNAUTHORIZED SIGNATURE
(A) Loss resulting directly from the Insured having accepted,
paid or cashed any check or withdrawal order, draft, made or
drawn on a customer's account which bears the signature or
endorsement of one other than a person whose name and signature
is on the application on file with the Insured as a signatory
on such account.
(B) It shall be a condition precedent to the Insured's right
of recovery under this Rider that the Insured shall have on
file signatures of all persons who are authorized signatories
on such account.
2. The total liability of the Underwriter under Insuring
Agreement M is limited to the sum of Fifty Thousand Dollars
($50,000 ), it being understood, however, that such liability
shall be part of and not in addition to the Limit of Liability
stated in Item 3 of the Declarations of the attached bond or
amendment thereof.
3. With respect to coverage afforded under this Rider, the
Deductible Amount shall be Five Thousand Dollars ($5,000 ).
Nothing herein contained shall be held to vary, alter, waive,
or extend any of the terms, conditions, provisions, agreements
or limitations of the above mentioned Bond or Policy, other than
as above stated.
By
Authorized Representative
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss

ICB013 Ed. 7-04 Page 1 of 2
2004 The St. Paul Travelers Companies, Inc. All Rights Reserved
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed if
this endorsement or rider and the Bond or Policy have the same
inception date.
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO.
490BD0845
DATE ENDORSEMENT OR RIDER EXECUTED
09/17/08
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER 12:01 A.M. STANDARD TIME AS
SPECIFIED IN THE BOND OR POLICY
09/30/08
* ISSUED TO
JF CHINA REGION FUND, INC.
Telefacsimile Transactions
It is agreed that:
1. The attached Bond is amended by adding an additional Insuring
Agreement as follows:
INSURING AGREEMENT L TELEFACSIMILE TRANSACTIONS
Loss caused by a Telefacsimile Transaction, where the request for
such
Telefacsimile Transaction is unauthorized or fraudulent and is made
with the manifest intent to deceive; provided, that the entity which
receives such request generally maintains and follows during the Bond
Period all Designated Fax Procedures with respect to Telefacsimile
Transactions. The isolated failure of such entity to maintain and
follow a particular Designated Fax Procedure in a particular instance
will not preclude coverage under this Insuring Agreement, subject
to the exclusions herein and in the Bond.
2. Definitions. The following terms used in this Insuring Agreement
shall have the following meanings:
a. "Telefacsimile System" means a system of transmitting and reproducing
fixed graphic material (as, for example, printing) by means of signals
transmitted over telephone lines.
b. "Telefacsimile Transaction" means any Fax Redemption, Fax Election,
Fax Exchange, or Fax Purchase.
c. "Fax Redemption" means any redemption of shares issued by an Investment
Company which is requested through a Telefacsimile System.
d. "Fax Election" means any election concerning dividend options
available to Fund shareholders which is requested through a
Telefacsimile System.
e. "Fax Exchange" means any exchange of shares in a registered
account of
one Fund into shares in an identically registered account of another
Fund in the same complex pursuant to exchange privileges of the
two Funds, which exchange is requested through a Telefacsimile System.
f. "Fax Purchase" means any purchase of shares issued by an Investment
Company which is requested through a Telefacsimile System.
g. "Designated Fax Procedures" means the following procedures:
(1) Retention: All Telefacsimile Transaction requests shall be
retained for at least six (6) months.
Requests shall be capable of being retrieved and produced in
legible form within a reasonable time after retrieval is requested.
(2) Identity Test: The identity of the sender in any request
for a Telefacsimile Transaction shall be tested before executing
that Telefacsimile Transaction, either by requiring the sender
to include on the face of the request a unique identification
number or to include key specific account information.
Requests of Dealers must be on company letterhead and be
signed by an authorized representative. Transactions by
occasional users are to be verified by telephone confirmation.
The hard copy of the bond issued by the Underwriter will
be referenced in the event of a loss

INSURED
ICB013 Ed. 7-04 Page 2 of 2
2004 The St. Paul Travelers Companies, Inc. All Right Reserved
(3) Contents: A Telefacsimile Transaction shall not be executed
unless the request for such Telefacsimile Transaction is dated
and purports to have been signed by (a) any shareholder or
subscriber to shares issued by a Fund, or (b) any financial
or banking institution or stockbroker.
(4) Written Confirmation: A written confirmation of each
Telefacsimile
Transaction shall be sent to the shareholder(s) to whose
account such Telefacsimile Transaction relates, at the
record address, by the end of the Insured's next regular processing
cycle, but no later than five (5) business days following such
Telefacsimile Transaction.
i. "Designated" means or refers to a written designation
signed by a shareholder of record of a Fund, either in such
shareholder's initial application for the purchase of Fund shares,
with or without a Signature Guarantee, or in another document with
a Signature Guarantee.
j. "Signature Guarantee" means a written guarantee of a signature,
which
guarantee is made by an Eligible Guarantor Institution as defined in
Rule 17Ad-15(a)(2) under the Securities Exchange Act of 1934.
3. Exclusions. It is further understood and agreed that this Insuring
Agreement shall not cover:
a. Any loss covered under Insuring Agreement A, "Fidelity," of this
Bond; and
b. Any loss resulting from:
(1) Any Fax Redemption, where the proceeds of such redemption were
requested to be paid or made payable to other than (a) the shareholder
of record, or (b) a person Designated in the initial application or in
writing at least one (1) day prior to such redemption to receive
redemption proceeds, or (c) a bank account Designated in the initial
application or in writing at least one (1) day prior to such redemption
to receive redemption proceeds; or
(2) Any Fax Redemption of Fund shares which had been improperly
credited to a shareholder's account, where such shareholder (a)
did not cause, directly or indirectly, such shares to be credited
to such account, and (b) directly or indirectly received any proceeds
or other benefit from such redemption; or
(3) Any Fax Redemption from any account, where the proceeds of
such
redemption were requested to be sent to any address other than the
record address or another address for such account which was designated
(a) over the telephone or by telefacsimile at least fifteen (15) days
prior to such redemption, or (b) in the initial application or in
writing at least one (1) day prior to such redemption; or
(4) The intentional failure to adhere to one or more Designated Fax
Procedures; or
(5) The failure to pay for shares attempted to be purchased.
4. The Single Loss Limit of Liability under Insuring Agreement L is
limited to the sum of Five Hundred Twenty Five Thousand Dollars ($525,000 )
it being understood, however, that such liability shall be part of and not
in addition to the Limit of Liability stated in Item 3 of the Declarations
of the attached Bond or amendments thereof.
5. With respect to coverage afforded under this Rider the applicable Single
loss Deductible Amount is Twenty Five Thousand Dollars ($25,000 ).
Nothing herein contained shall be held to vary, alter, waive, or
extend any of the terms, conditions, provisions, agreements or
limitations of the above mentioned Bond or Policy, other than as above stated.
By
Authorized Representative
The hard copy of the bond issued by the Underwriter will be referenced
in the event of a loss

ICB014 Ed. 7-04 Page 1 of 2
2004 The St. Paul Travelers Companies, Inc. All Rights Reserved
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed if this
endorsement or rider and the Bond or Policy have the same inception date.
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO.
490BD0845
DATE ENDORSEMENT OR RIDER EXECUTED
09/17/08
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER 12:01 A.M. STANDARD TIME AS
SPECIFIED IN THE BOND OR POLICY
09/30/08
* ISSUED TO
JF CHINA REGION FUND, INC.
Voice Initiated Transactions
It is agreed that:
1. The attached bond is amended by inserting an additional Insuring
Agreement as follows:
INSURING AGREEMENT K -VOICE-INITIATED TRANSACTIONS
Loss caused by a Voice-initiated Transaction, where the request for
 such
Voice-initiated Transaction is unauthorized or fraudulent and is
made with the manifest intent to deceive; provided, that the entity
which receives such request generally maintains and follows during
the Bond
Period all Designated Procedures with respect to Voice-initiated
Redemptions and the Designated Procedures described in paragraph
2f (1) and (3) of this Rider with respect to all other
Voice-initiated Transactions. The isolated failure of such entity to
maintain and follow a particular Designated Procedure in a particular
instance will not preclude coverage under this Insuring Agreement,
subject to the specific exclusions herein and in the Bond.
2. Definitions. The following terms used in this Insuring Agreement
shall have the following meanings:
a. "Voice-initiated Transaction" means any Voice-initiated Redemption,
Voice-initiated Election, Voice-initiated Exchange, or
Voice-initiated Purchase.
b. "Voice-initiated Redemption" means any redemption of shares
issued by an Investment Company which is requested by voice over
the telephone.
c. "Voice-initiated Election" means any election concerning
dividend options available to Fund shareholders which is requested
by voice over the telephone.
d. "Voice-initiated Exchange" means any exchange of shares
in a registered account of one Fund into shares in an identically
registered account of another Fund in the same complex
pursuant to exchange privileges of the two Funds, which
exchange is requested by voice over the telephone.
e. "Voice-initiated Purchase" means any purchase of shares
issued by an Investment Company which is requested by voice
over the telephone.
f. "Designated Procedures" means the following procedures:
(1) Recordings: All Voice-initiated Transaction requests shall
be recorded, and the recordings shall be retained for at least
six (6) months. Information contained on the recordings shall
be capable of being retrieved and produced within a reasonable
time after retrieval of specific information is requested, at a
 success rate of no less than 85%.
(2) Identity Test: The identity of the caller in any request
for a Voice-initiated Redemption shall be tested before executing
 that Voice-initiated Redemption, either by requesting the caller
 to state a unique identification number or to furnish key
specific account information.
(3) Written Confirmation: A written confirmation of each
Voice-initiated
Transaction and of each change of the record address of a
Fund shareholder requested by voice over the telephone shall
be mailed to the
shareholder(s) to whose account such Voice-initiated Transaction
or change of address relates, at the original record address
(and, in the case of such change of address, at the changed
record address) by the end of the Insured's next regular
processing cycle, but no later than five (5) business days
following such Voice-initiated Transaction or change of address.
The hard copy of the bond issued by the Underwriter will
be referenced in the event of a loss

INSURED
ICB014 Ed. 7-04 Page 2 of 2
2004 The St. Paul Travelers Companies, Inc. All Right Reserved
g. "Investment Company" or "Fund" means an investment company registered
under the Investment Company Act of 1940.
h. "Officially Designated" means or refers to a written
designation signed by a shareholder of record of a Fund,
either in such shareholder's initial application for the
purchase of Fund shares, with or without a Signature Guarantee,
or in another document with a Signature Guarantee.
i. "Signature Guarantee" means a written guarantee of a
 signature, which guarantee is made by a financial or banking
 institution whose deposits are insured by the Federal Deposit
 Insurance Corporation or by a broker which is a member of any
 national securities exchange registered under the Securities
 Exchange Act of 1934.
3. Exclusions. It is further understood and agreed that this
Insuring
Agreement shall not cover:
a. Any loss covered under Insuring Agreement A, "Fidelity, "
of this Bond; and
b. Any loss resulting from:
(1) Any Voice-initiated Redemption, where the proceeds of such
 redemption
were requested to be paid or made payable to other than (a)
 the shareholder of record, or (b) a person Officially
 Designated to receive redemption proceeds, or (c) a bank account
 Officially Designated to receive redemption proceeds; or
(2) Any Voice-initiated Redemption of Fund shares which had
 been improperly credited to a shareholder's account, where
 such shareholder (a) did not cause, directly or indirectly,
 such shares to be credited to such account, and (b) directly
 or indirectly received any proceeds or other benefit from such
 redemption; or
(3) Any Voice-initiated Redemption from any account, where the
 proceeds of such redemption were requested to be sent (a) to
 any address other than the record address for such account,
 or (b) to a record address for such account which was either
 (i) designated over the telephone fewer than thirty (30) days
 prior to such redemption, or (ii) designated in writing less
 than on (1) day prior to such redemption; or
(4) The intentional failure to adhere to one or more Designated
 Procedures; or
(5) The failure to pay for shares attempted to be purchased; or

(6) Any Voice-initiated Transaction requested by voice over the
 telephone and received by an automated system which receives and
converts such request to executable instructions.
4. The total liability of the Underwriter under Insuring Agreement
 K is
limited to the sum of Five Hundred Twenty Five Thousand Dollars
($525,000 ), it being understood, however, that such liability shall
 be part of and not in addition to the Limit of Liability stated in
Item 3 of the Declarations of the attached bond or amendment thereof.
5. With respect to coverage afforded under this Rider the applicable
Deductible Amount is Twenty Five Thousand Dollars ($25,000 ).
Nothing herein contained shall be held to vary, alter, waive,
 or extend any of the terms, conditions, provisions, agreements
 or limitations of the above mentioned Bond or Policy, other than
 as above stated.
By
Authorized Representative
The hard copy of the bond issued by the Underwriter will be
referenced in
the event of a loss

INSURED
ICB016 Ed. 7-04
2004 The St. Paul Travelers Companies, Inc. All Rights Reserved
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed
if this endorsement or rider and the Bond or Policy have the
 same inception date.
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO.
490BD0845
DATE ENDORSEMENT OR RIDER EXECUTED
09/17/08
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER 12:01 A.M. STANDARD
 TIME AS
SPECIFIED IN THE BOND OR POLICY
09/30/08
* ISSUED TO
JF CHINA REGION FUND, INC.
Definition of Investment Company
It is agreed that:
1. Section 1, Definitions, under General Agreements is amended
to include the following paragraph:
(f) Investment Company means an investment company registered
 under the
Investment Company Act of 1940 and as listed under the names
 of Insureds on the Declarations.
Nothing herein contained shall be held to vary, alter, waive,
 or extend any of the terms, conditions, provisions, agreements
 or limitations of the above mentioned Bond or Policy, other than
 as above stated.
By
Authorized Representative
The hard copy of the bond issued by the Underwriter will be
 referenced in the event of a loss

INSURED
ICB022 Ed. 7-04
2004 The St. Paul Travelers Companies, Inc. All Rights Reserved
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed
 if this endorsement or rider and the Bond or Policy have the
same inception date.
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO.
490BD0845
DATE ENDORSEMENT OR RIDER EXECUTED
09/17/08
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER 12:01 A.M. STANDARD
 TIME AS
SPECIFIED IN THE BOND OR POLICY
09/30/08
* ISSUED TO
JF CHINA REGION FUND, INC.
AMEND DEFINITION OF EMPLOYEE (INCLUDE CONTRACTORS)
It is agreed that:
1. Section 1(a) EMPLOYEES, under Definitions -CONDITIONS
AND LIMITATIONS, is amended to include the following
sub-section;
(10) A person provided by an employment contractor to
perform duties for the Insured under the Insured's
supervision at any of the Insured's offices or premises
covered hereunder.
Nothing herein contained shall be held to vary, alter,
waive, or extend any of the terms, conditions, provisions,
agreements or limitations of the above mentioned Bond or
Policy, other than as above stated.
By
Authorized Representative
The hard copy of the bond issued by the Underwriter will
be referenced in the event of a loss

ICB026 Ed. 7-04
 2004 The St. Paul Travelers Companies, Inc. All Rights
Reserved
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT
CAREFULLY.
The following spaces preceded by an (*) need not be
completed if this
endorsement or rider and the Bond or Policy have
the same inception date.
ATTACHED TO AND FORMING
PART OF BOND OR POLICY NO.
490BD0845
DATE ENDORSEMENT OR
RIDER EXECUTED
09/17/08
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER
12:01 A.M. STANDARD TIME AS SPECIFIED IN THE BOND OR POLICY
09/30/08
* ISSUED TO
JF CHINA REGION FUND,INC.
Add Exclusions (n) & (o)
It is agreed that:
1. Section 2, Exclusions, under General Agreements, is
amended to include
the following sub-sections:
(n) loss from the use of credit, debit, charge, access,
convenience,
identification, cash management or other cards, whether
such cards were issued or purport to have been issued by
the Insured or by anyone else,
unless such loss is otherwise covered under Insuring
Agreement A.
(o) the underwriter shall not be liable under the a
ttached bond for loss due to liability imposed upon
the Insured as a result of the unlawful disclosure of
non-public material information by the Insured or any
Employee, or as a result of any Employee acting upon such
information,
whether authorized or unauthorized.
Nothing herein contained shall be held to vary, alter,
waive, or extend
any of the terms, conditions, provisions, agreements or
limitations of the above mentioned Bond or Policy,
other than as above stated.
By
Authorized Representative
INSURED
The hard copy of the bond issued by the Underwriter
will be referenced in
the event of a loss

ICB057 Ed. 4-05 Page 1 of 2
2005 The St. Paul Travelers Companies, Inc.
All Rights Reserved
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY.
PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be
completed if this endorsement or rider and the Bond
or Policy have the same inception date.
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO.
490BD0845
DATE ENDORSEMENT OR RIDER EXECUTED
09/17/08
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER 12:01 A.M.
STANDARD TIME AS
SPECIFIED IN THE BOND OR POLICY
09/30/08
* ISSUED TO
JF CHINA REGION FUND, INC.
New York Statutory Rider
1. The first paragraph of Section 13. "TERMINATION"
under Conditions and Limitations is amended by adding
the following:
Cancellation of this bond by the Underwriter is
subject to the following
provisions:
If the bond has been in effect for 60 days or less,
it may be canceled by the Underwriter for any reason.
Such cancellation shall be effective 60 days after the
Underwriter mails a notice of cancellation to the
first-named Insured at the mailing address shown in the bond.
However, if the bond has been in effect for more than 60 days
or is a renewal, then cancellation must be based on one of
the followings grounds:
(A) non-payment of premium, however, that a notice of cancellation
on this ground shall inform the insured of the amount due;
(B) conviction of crime arising out of acts increasing the
hazard insured against;
(C) discovery of fraud or material misrepresentation in the
obtaining of the bond or in the presentation of claim thereunder;
(D) after issuance of the bond or after the last renewal date,
discovery of an act or omission, or a violation of any bond
condition that substantially and materially increases the
hazard Insured against, and which occurred subsequent to
inception of the current bond period;
(E) material change in the nature or extent of the risk,
occurring after
issuance or last annual renewal anniversary date of the bond,
which causes the risk of loss to be substantially and
materially increased beyond that contemplated at the
time the bond was issued or last renewed;
(F) the cancellation is required pursuant to a determination
by the superintendent that continuation of the present premium
volume of the Insurer would jeopardize the Insurer's
solvency or be hazardous to the interest of the Insureds,
the Insurer's creditors or the public;
(G) a determination by the superintendent that the
continuation of the bond would violate, or would place the
Insurer in violation of, any provision of the New York
State Insurance laws.
(H) where the Insurer has reason to believe, in good faith
 and with
sufficient cause, that there is a possible risk or
danger that the Insured property will be destroyed by
the Insured for the purpose of collecting the insurance
proceeds, provided, however, that:
(i) a notice of cancellation on this ground shall inform
the Insured in plain language that the Insured must act
within ten days if review by the Insurance Department of
the State of New York of the ground for cancellation is desired,
and
(ii) notice of cancellation on this ground shall be
provided simultaneously by the Insurer to the Insurance
Department of the State of New York.
(iii) upon written request of the Insured made to the
Insurance Department of the State of New York within ten
days from the Insured's receipt of notice of cancellation
on this ground, the department shall undertake a review of
the ground for cancellation to determine whether or not the
 Insurer has satisfied the criteria for cancellation specified
in this subparagraph; if after such review the
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss

INSURED
ICB057 Ed. 4-05 Page 2 of 2
2005 The St. Paul Travelers Companies, Inc. All Right Reserved
department finds not sufficient cause for cancellation on this
ground, the notice of cancellation on this ground shall be deemed
 null and void.
Cancellation based on one of the above grounds shall be effective
60 days after the notice of cancellation is mailed or delivered to
 the Named Insured, at the address shown on the bond, and to its
 authorized agent or broker.
2. If the Underwriter elects not to replace a bond at the termination
 of the Bond Period, it shall notify the Insured not more than 120 days
 nor less than 60 days before termination. If such notice is given
late, the bond shall continue in effect for 60 days after such notice
 is given. The Aggregate Limit of Liability shall not be increased
 or reinstated. The notice not to replace shall be mailed to the
 Insured and its broker or agent.
3. If the Underwriter elects to replace the bond, but with a change
 of limits, reduced coverage, increased deductible, additional exclusion,
 or upon increased premiums in excess of ten percent (exclusive of any
 premium increase as a result of experience rating), the Underwriter must
 mail written notice to the Insured and its agent or broker not more than
 120 days nor less than 60 days before replacement. If such notice is given
 late, the replacement bond shall be in effect with the same terms,
conditions and rates as the terminated bond for 60 days after such notice
 is given.
4. The Underwriter may elect to simply notify the Insured that the bond will
 either be not renewed or renewed with different terms, conditions or rates.
 In this event, the Underwriter will inform the Insured that a second notice
 will be sent at a later date specifying the Underwriter's exact intention.
 The Underwriter shall inform the Insured that, in the meantime, coverage
 shall continue on the same terms, conditions and rates as the expiring bond
 until the expiration date of the bond or 60 days after the second notice is
 mailed or delivered, whichever is later.
Nothing herein contained shall be held to vary, alter, waive, or extend
 any of the terms, conditions, provisions, agreements or limitations of the
 above mentioned Bond or Policy, other than as above stated.
By
Authorized Representative
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss